Michael Bologna and Jamie Power, the top executives with GroupM's Modi Media addressable advertising unit, are launching their own firm called one2one Media with Cross MediaWorks.
The new company will provide a scaleable addressable video business for agencies and advertisers working with multichannel video programming distributors.
Bologna will be president of the new company and Power will be COO. The company is backed by Cross MediaWorks, a group of advanced advertising companies led by Nick Troiano. Cross MediaWorks is managed by Lee Equity Partners.
"Cross MediaWorks is excited to launch this ground-breaking company focused solely on advancing the addressable video marketplace," said Troiano, CEO of Cross MediaWorks. "The addition of one2one Media, led by Michael and Jamie, to the Cross MediaWorks family strengthens our company's promise to advance the TV and video advertising marketplace."
one2one's addressable video solution will extend across 70 million households in the U.S. with inventory provided by MVPDs including Altice, AT&T, Comcast, Cox, Dish Network and Spectrum Reach.
one2one will have the support of GroupM and Modi Media in launching the business to establish the necessary neutral, third-party solution that will fuel the rapid adoption of addressable video and drive scale, in order to create marketplace efficiencies and enhance client value. In addition to Modi Media, inaugural roster clients will include Wilson and The Cross Agency.
"This is an excellent opportunity for marketers and agencies who seek a scalable, turnkey addressable video solution without the logistical burden of dealing with our current fragmented ecosystem," Bologna stated. "one2one Media will work hand-in-hand with agencies, data partners and all addressable video media owners to create a best-in-class managed service for advertisers with unparalleled efficiency and transparent attribution."
In 2014, Bologna and Power launched Modi Media, GroupM's advanced television business. Modi Media was a pioneer in offering brands household-level targeting on television through the application of data and dynamic ad insertion.
Barry Baker and Bob Wright are senior advisors to Lee Equity Partners and on the board of directors of Cross MediaWorks.
"Lee Equity is proud of the growing presence Cross MediaWorks has in the TV and video marketplace," said Baker, chairman of Cross MediaWorks. "one2one Media is yet another powerful media asset in this incredible portfolio."
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